India unveils $265 billion coronavirus economic package
The credit line is part of a 20 trillion rupee (S$378 billion) fiscal and monetary package to support the Indian economy. PHOTO: EPA-EFE via The Straits Times/Asia News Network NEW…
JG Summit’s Q1 core profit down 19%
Cebu Pacific Gokongwei-led conglomerate JG Summit Holdings saw a 19-percent year-on-year decline in core net profit to P4.3 billion in the first quarter as coronavirus (COVID-19) pandemic caused financial hemorrhage…
Stocks drop again on worries about slow recovery for economy
Wall Street’s earlier bets that the economy can make a relatively quick rebound from the coronavirus pandemic suddenly don’t look so good. A woman wearing face mask walks past a…
UN forecasts pandemic to shrink world economy by 3.2%
UNITED NATIONS — The United Nations forecast Wednesday that the COVID-19 pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the…
Restrictions on public, private construction projects listed
MANILA, Philippines — While more public works and private construction projects are now allowed under the modified enhanced community quarantine (MECQ) imposed over Metro Manila, Laguna and Cebu City from…
Major PH airlines suspend flights anew till May 31
MANILA, Philippines — The country’s major airlines operating from Ninoy Aquino International Airport (Naia) have canceled their domestic and international flights for the rest of May after Metro Manila, the…
Biggest economic decline since waning years of Marcos regime seen
MANILA, Philippines — The Philippine economy’s contraction this year could be greater than earlier predicted as measures to contain the coronavirus outbreak weigh on domestic demand and investments, and the…
PSEi loses 0.45% in thin trade
The local stock barometer dipped on Wednesday as investors started to price in the latest rebalancing of MSCI indices alongside the economic impact of an extended lockdown of Metro Manila.…
DOF to finance training of badly needed contact tracers
Department of Finance (DOF) Secretary Carlos G. Dominguez III on Wednesday said the government was planning to fund the training of contact tracers to be hired from among those who…
Lockdown extension to delay recovery
The latest two-week extension until May 31 of the COVID-19 lockdown in the Philippines will hurt the economy some more and risk delaying recovery, London-based Capital Economics said. “The Philippines…